Half a billion: UC Budget Gap

The state of California is in serious fiscal trouble.  Those troubles extend the state’s flagship university system.   “The scenario that assumes failure of the May 19 state ballot propositions would leave the UC system with a net budget reduction of $322 million, or 10 percent, in the 2009-10 year. Taken together with the state’s…

Quotations on Intellectual Hazard

Econ Journal Watch has a swath of quotations concerning intellectual pursuits. “[The economist’s] response [to his impotence to influence opinion] may be to retire from that field of intellectual activity in which he could be of direct service to the community and… concentrate on the development of an intricate technique of analysis. he may then find himself the possessor…

The Economics of Free Surgical Masks

El Universal reports that Mexican police have arrested 13 individuals accused of selling surgical masks on the street.  Should the government arrest individuals selling surgical masks? Any capitalist would in general support the ability of individuals to trade cash for the goods they desire.  However, the case of the surgical mask may be different.  Surgical…

Swine Flu Update: Tuesday

Where has the swine flu been detected?   A map of the H1N1 Swine Flu lists all confirmed, unconfirmed, and negative cases of the swine flu around the world. Mexico City has decided to close all restaurants in the capital, only allowing them to serve food ‘to go.’    Restaurant associations are asking for the restaurant ban to be lifted.…

Nature vs. Nuture: Yemeni edition

Experiment: Airlift 50,000 Yemini Jews to Israel and randomly place them with Israeli families. Finding: Nuture matters.  “We find that children who were placed in a good environment (a home with good sanitary conditions, in a city, and outside of an ethnic enclave) were more likely to achieve positive long-term outcomes. They were more likely to…